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Advent Leads $150M Series C in Tekion at $1B+ Valuation, Funding Disruption in Automotive Retail

Oct 21, 2020•over 4 years ago

Amount Raised

$150 Million

Round Type

series c

PleasantonSoftware

Description

Tekion, a cloud technology company and provider of SaaS retail operating platform (aka DMS), Automotive Retail Cloud, today announced its Series C financing round of $150 million at over a $1 billion valuation. The funding round was led by Advent International (“Advent”), one of the largest and most experienced global private equity investors, with participation from Index Ventures, Exor (the holding company of Fiat Chrysler Automobiles and Ferrari), Airbus Ventures and FM Capital (a fund that includes a large number of top 100 dealers in the country as its limited partners). Tekion’s other key investors from the Automotive industry include General Motors, BMW iVentures and Nissan-Renault-Mitsubishi Alliance Ventures.

Company Information

Company

Tekion

Location

Pleasanton, California, United States

About

Positively disrupting an industry that has not seen disruption in over 50 years, Tekion has challenged the paradigm with the first and fastest cloud-native automotive platform that includes the revolutionary Automotive Retail Cloud (ARC) for retailers, Automotive Enterprise Cloud (AEC) for manufacturers and other large automotive enterprises, and Automotive Partner Cloud (APC) for technology and industry partners. Tekion connects the entire spectrum of the automotive retail ecosystem through one seamless platform. The transformative platform uses cutting-edge technology, big data, machine learning, and AI to seamlessly bring together OEMs, retailers/dealers, and consumers. With its highly configurable integration and greater customer engagement capabilities, Tekion is enabling the best automotive retail experiences ever.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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